4 Cheapest Cryptocurrencies That Hold Much Promise
Bitcoin has been the most popular cryptocurrency in the world ever since its inception. Yet, in comparison to its origins, when it was basically the only crypto option, many other digital currencies appeared over the decade.
More than 12 years after the groundbreaking creation of blockchain-based network and crypto money, there are literally thousands of options to choose from. All the popular cryptocurrencies, however, are expensive, and if you're a new investor, the decision to buy Bitcoin or Ethereum might be too much for you, especially if you are on a budget.
That's why investing in cheap cryptocurrencies might prove useful in the long run. There's always hope that some of them might improve in the future and recreate the Bitcoin scenario, with prices skyrocketing.
But before we list the currencies, we need to discuss the reason why some cryptos are cheaper than others.
Why Are Some Cryptocurrencies Cheaper Than Others?
The first and most obvious reason is that some cryptocurrencies are more popular. The sole hype surrounding BTC attracted thousands of investors from all over the planet, raising the price of a single coin. That's why BTC is still the most popular crypto at the moment.
However, the other reason is the total circulating supply. The maximum supply of Bitcoins that can ever be in use is set to 21,000,000 BTC, with more than 18 million already circulating. On the other hand, the maximum supply determined for Ripple is 99,991,077,044 — so we're talking almost a hundred billion. At the moment, 43 billion are already circulating the market, making XRP much more affordable, simply because of the fact that there's much more of them.
Without further ado, let's take a look at the most popular cryptocurrencies that are also very cheap to buy.
XRP comes as the most obvious choice, as it is currently Ranked 3rd on CoinMarketCap when it comes to the overall market cup, with more than $12 billion cap. Despite being so popular, it's still nowhere near the popularity of BTC that has a market cap of $179.4 billion right now.
What we want to say is that if XRP had such a high cap, the price of a single XRP would be nowhere near the price of a single Bitcoin. However, it would definitely be much higher than it is now.
So, how much money do you need to buy a single unit or Ripple? At the moment, you need to spare $0.28 to buy one coin. However, please take into account that the price of every cryptocurrency is highly volatile, and the price may be different at the time you're reading this. The highest price was during January 2018, when the crypto fever was approximately $3.45.
Stellar Lumens (XLM) is currently ranked 14th on CoinMarketCap, and the total supply is determined to be 50,001,803,906 XLM, with the current circulating supply being a bit more than 20 billion XLM. A single unit of Stellar costs $0.07 right now, with the highest price ever being $0.9, also during January 2018.
What's the difference between Stellar and Ripple?
Both Stellar and Ripple are similar, as they are essentially networks for facilitating cross-border payments. It's no surprise that they share so much in common since Stellar was created by people who worked on Ripple in the first place.
Both XLM and XRP, as well as their underlying networks, are almost in direct competition with one another, as both have similar goals. At the moment, Ripple seems to be doing a little better. Although many believe the two can't co-exist, some optimists think the two networks and their cryptos are just fine. Make sure to check out this article to find out more about them.
Litecoin is one of the most popular cryptocurrencies in the world, with a total market cap of $5.052 billion. Although it's not as cheap as XRP or Stellar, it's still on the more affordable side, especially since its max supply is set at 84 million LTC.
A single unit of Litecoin now costs $78.71, and the highest price was back in December 2019 when it reached more than $370. Litecoin is holding on, as there are still a lot of enthusiasts believing in it. However, some investors disagree, claiming that BTC has reached the speed that LTC was aiming develope in the first place.
TRON's TRX is currently located on the 15th place on CoinMarketCap, and it seems that its popularity has increased recently. Justin Sun, the creator of the TRON network and its cryptocurrency, has been working hard on promoting his business and expanding its scope.
The current price of TRX is $0.20, with the highest being in January 2018 when it reached $0.287.
The idea for TRON is to become part of the "new Internet" that would revolutionize digital entertainment. It aims to create a decentralized environment for content distribution, where powerful content companies such as YouTube, iTunes, or Netflix, wouldn't have so much power over dictating the rules.
Just like in cases with all the other cryptocurrencies in this list, the future of TRON is not certain, despite the fact that many believe it's a promising cryptocurrency.
Where to Buy These Cryptocurrencies?
To buy these, or any other cryptocurrency of your choice, you need to select a platform that supports them and makes them available for purchasing either with other cryptocurrency or with fiat money.
An exchange that supports all of the listed cryptos at the moment and is great for investors who are new to crypto trading is CEX.IO. The registration process on the exchange is simple, and buying cryptos, including the ones listed in this article is possible in a simple step-by-step procedure that's completely beginner-friendly.
Conclusion: Be Careful When Choosing What to Invest In
No investment in cryptocurrencies is safe at the moment since the market is still fairly new and needs time to stabilize. The four cryptocurrencies we mentioned in this article are all very popular and promising but don't take that for granted. The world of cryptocurrencies is highly competitive, and anything can happen in the future.
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